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Old 01-04-2013, 12:58 PM
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TomCopeland TomCopeland is online now
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Join Date: Jun 2010
Location: St. Paul, Minnesota
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Default Grant income

Quote:
Originally Posted by Abigail View Post
I received grants from the state and now sure which year to claim them in. The items were placed in order Dec. 28, 2012, but I received them January 3, 2013. It's $900 worth of merchandise. How do I handle this?
Report this as income in 2013. Then claim the business portion of this as an expense on your 2013 tax return.
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